The Make in India campaign of the government under its initiative like 'Prayas' has aimed at creating 5 gigawatts (GW) of photo-voltaic manufacturing capacity from 2019 and build 20 GW of projects by 2026.

Government has targeted to raise its renewable energy capacity to 175 GW by 2022 from 45 GW at present.

"With the Prime Minister's vision of promoting renewable energy we too understand the importance of what right financing will do to the sector. With the funding we are confident that RCFL will provide solutions and help fill any gaps in financing the renewable energy sector," said K S Popli Chairman and Managing Director, IREDA.

RCFL is part of Reliance Capital that offer products like business expansion loans, vehicle loans, loans against property, infrastructure financing, agriculture loans and supply chain financing among others.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)